Four More Years to Finish What He Started

October 26, 2011

“I’ve been a campaign volunteer before, but there’s more at stake in 2012. Casual volunteering isn’t enough; I needed to step up and work full time to make sure President Obama gets four more years to finish what he started”. Heather B., Arizona Fall Fellow.

For the past 6 years, Heather has been a realtor in metro Phoenix, one of the regions hit hardest by the foreclosure crisis. She started seeing homeowners struggling to avoid foreclosure as early as 2007.

"As their realtor, they turn to me for advice. These are simply gut-wrenching conversations to have. People are scared of losing their home and with it, their grip on the American Dream. They’re frustrated at the lack of help from the government and often feel paralyzed by fear, embarrassment and even shame. To be honest, these talks usually end up with everyone in tears, me included."

With today's historically low mortgage rates, refinancing can help people avoid foreclosure and save hundreds of dollars each month. Previously government refinance programs had disqualified anyone more than 5% or 25% underwater. Bank refinance programs are even more restrictive. With Congress unwilling to act, President Obama recently announced steps taken by the FHFA to make it easier for some homeowners to refinance their mortgages at today’s historically low rates.

“The President’s announcement is exactly what Arizona homeowners need because most are far more than 25% underwater. By lifting the maximum cap on underwater borrowers participating in the program, the President has given Phoenix area homeowners a real chance to avoid foreclosure.”

Heather is volunteering full time in Phoenix to support President Obama and his effort to help homeowners. Learn more about the President’s action on housing and how you can get involved by visiting BarackObama.com.